Tips to Renting to Residents With Pets

Modern Gem Design :: Tips to Renting to Residents with Pets

Did you know according to a Zillow Group Report on Consumer Housing Trends 41% of renters list allowing pets as a top requirement in their search for a new home? If that isn’t enough proof that people love their pets, we don’t know what is! Whether your property already allows pets or you’re considering adding this to your property, there are a few things to keep in mind to help make the process smooth and successful for everyone living in your community!

Establish a Pet Policy

Having a pet policy in place will help you determine which pets and residents can live at your property. This will help protect you and your residents from the liability of having a pet on the premises. A few policies you might want to consider include:

  • Having pet parents provide health and vaccination records
  • Proof the pet is spayed or neutered
  • Weight limits
  • Minimum age requirements
  • Number of pets allowed per unit  
  • Require residents to pick up after their pets by creating designated pet bathroom areas with waste bags and cans

Having these policies in place will help keep your property clean, friendly, and safe for all your residents, pet parents or not. It’s also important that you make sure your policy also complies with fair housing laws when it comes to service or emotional support animals.

Require Pet Interviews

Meeting the pets of prospective residents prior to approving an applicant and signing a lease can help you confirm they meet your pet policy requirements and that they are well-behaved. If you have a size or age requirement you can confirm they meet this and that they are well-trained and friendly. By interacting with the pet beforehand, this can put everyone at ease and it gives you an opportunity to review the pet policy again with your new resident.

Make Pet-Friendly Upgrades

There are a few upgrades you can make to reduce the wear and tear on your property and accommodate your new furry residents. Consider updating your units’ carpets with a more durable flooring option. This will make it easier for residents to clean, won’t trap dirt and odors as much and will have a much longer lifespan than carpet. If you decide to not update your carpeting, you may want to apply a stain-resistant treatment that will help reduce wear and tear as well.

You may also want to add (or update) some new amenities. This can include a dog park, grooming stations, and providing a walking service. These will all cater to your residents’ needs and show them that their pets are just as welcome in your community as they are!

Offset Additional Costs

By allowing pets at your property, you are opening yourself up for potential pet-related property damage. However, you can protect your investment by offsetting these costs at the time your applicant signs their lease. Consider having a pet deposit as well as monthly pet rent at your property. Both of these will help you cover the costs of repairs and cleaning when a pet-owning resident moves out.

Opening your property to pet-owning residents gives you a whole new demographic to market to and can help boost your bottom line. However, it’s important to have policies and systems in place to help protect your investment. If you’re looking to make some updates to make your property pet-friendly, contact us today for a consultation!

Amenities to Consider for the Best Value Added

As the rental market continues to heat up, it becomes increasingly more difficult to stay competitive. One way you can give your property an advantage over others is through the amenities you offer. Chances are your property already has many of the standard amenities like a pool, fitness center, game room, grilling area, but there are other amenities that can set your property apart. Here is a look at some amenities that can give your property an edge and increase your value:

Bike Room

A bike room is a great addition for your residents that like to stay active, especially if your property is in an area where bike use is common. Often residents don’t have anywhere to store a bike or they have to carry their bike up several flights of stairs. Offering a secure space for them to store their bike will help set you apart from other properties that don’t have this option.

Shared Yoga Space

Your fitness center is most likely the amenity that gets the most use so adding a shared yoga space is a natural expansion. According to Multifamily Executive, a flexible use space that renters can do yoga in is something many renters are looking for at the moment. In fact, 74% of those surveyed in the report requested access to this exact feature

This gives your residents an area separate from the fitness center to relax and move freely. This also gives you the opportunity to host yoga events for your residents from time to time. This is a nice way for residents to learn something new, meet other residents, and they feel appreciated when you host an event they enjoy.  

Charging Areas

Another amenity that was popular among the Multifamily Executive survey were charging stations. Seventy percent of respondents were interested in this amenity. In such a connected world, the last thing anyone wants is for their phone or other device to die.

While residents have access to outlets to charge their devices in their apartments as well as in the clubhouse, you might want to consider adding charging stations to outdoor community spaces. This includes by the pool, on a rooftop deck, or any other outside lounge areas. This allows residents to continue to enjoy their day or night without having to head back inside to charge their phone, keeping them happy with your property.

Smart Home Technology

Providing residents with smart home technology is another amenity renters showed interest in. Some examples of smart home technology you can integrate are electronic locks for each unit which allows residents to have more control over who has access to their personal space. You can also integrate technology that would allow residents to control their lights and/or thermostat via their phone.

Smart home technology is all about giving your residents more control over their personal space which they will surely appreciate. These upgrades will also help manage expenses, increase rental rates, and ultimately help your bottom line.

Pet Spa

If you have a pet-friendly community, you likely have a dog park but adding a pet spa could be a great addition to your property. Many residents don’t want to wash their dogs in the own tubs which can be difficult to manage and can potentially cause damage to their unit. Having a designated space for residents to wash and care for their pets can help cut damage costs while also keeping the pet parents in your community happy!

Your amenities are one of the fastest ways to add more value to your property and attract more residents to your property. Not all properties take the time to upgrade their amenities on a regular basis and this can give your property to edge over other.

If you need help incorporating any of these suggests, please contact us today!